Moving to a new home can be a fresh start, a new chapter, or a change of scenery. However, for some, the process isn’t all positive. The challenging and often lengthy experience can sometimes bring on doubts and even regrets. We surveyed 1,000 Americans to learn about their moving habits and the obstacles that can come with it.
Top 5 Moving Regrets Among Americans
More than 1 in 3 (36%) Americans have moved in the last 3 years. The majority of those who have moved did so in 2020.
Moving can be a roller coaster of emotions. From packing up your belongings, to moving to a new place, and maybe even dealing with unexpected repairs in your new home, there are many reasons why some aren’t completely happy with their move. Among homeowners who have moved in the last 3 years, 1 in 5 regret it. The top reasons why people regret moving include unexpected costs, missing their old neighborhood or city, missing their old home, wanting a bigger home, and paying too much for their new place.
The average American spends $4,200 on moving costs. It’s a hefty sum, and that may be why 30% regret how much they spent on moving. While some people enjoy the convenience of hiring movers, 54% of Americans chose not to. Among them, 23% regret not hiring professionals to help with their move.
Buying a home can not only be time consuming, but it also has a major impact on finances. In fact, nearly 1 in 4 (23%) of people regret how much they paid for their new home and 22% have buyer’s remorse.
The Cost of Moving in the U.S.
Among those who moved in the last few years, 46% were first-time homebuyers and 35% bought a starter home. Others were ready for a challenge as 22% bought a fixer-upper, but now nearly 1 in 3 regret doing so.
Sometimes the spending doesn’t stop once you’ve bought your new home. In fact, 28% of Americans had unexpected repair costs while moving. On average, they spent $4,000 on those unexpected expenses. With a competitive housing market, 15% waived the inspection for their new home. It may be a lesson to future home-buyers as nearly half (47%) who waived their home inspection regret it.
Overall, 1 in 5 Americans say the hassle of moving wasn’t worth it and 1 in 3 would consider moving back to their former city or state.
Waiting To Move: Americans’ Relocation Plans
For Americans who haven’t moved in the last 3 years, 31% feel trapped in their current living situation due to high interest rates. Additionally, 79% believe buying a home is significantly more difficult in 2023 than previous years.
Around half of Americans are considering moving to another state someday. Additionally, 1 in 3 plan to move within the next 3 years. The main reason people are looking to pack up and leave? They want to buy a new home.
Whether you just moved, are planning to move, or are looking to do upgrades on your current home, we know it can be a challenging process. Taking care of a home is a lot of work, and it’s easy to get caught up in regrets, especially when things don’t go as planned. Know that if you ever get overwhelmed professionals like those at All Star Home are here to help make your home a better place.
Methodology
In August 2023, we surveyed 1,000 homeowners about their moving habits and regrets. Respondents were 50% male, 49% female, and 1% non-binary. Respondents ranged in age from 18 to 85 with an average age of 45 years old.
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